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SBD Global/June 14, 2013/Franchises

Racing Santander Minority Shareholders Leave Meeting After Decision To Raise Capital

Spanish second-division side Racing Santander held its General Shareholders Meeting (AGM), with the objective of voting on a €4.5M ($6M) increase in the club's capital, although it will first be reduced by €1.8M ($2.4M) to balance assets, according to Manu de Juan of AS. The meeting ended with the motion approved while minority shareholders left the room. For much of the meeting, with a strong private security presence on hand to prevent altercations, many members yelled, "Liars" and "You will pay" at the Administration Council. Racing Penalties Association President Bernardo Colsa was one "of the most belligerent" and was detained by security after approaching the Council (AS, 6/13).
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